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- Feb 14, 2020
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Hi guys just looking for some info on paying tax please.
Since April (start of the new tax year) I’ve had self employed income and in the first few months I had some personal income as well from jobs I had which I already paid tax on. I think I’m right that I just have to say this is how much self employed income I’ve made and this is how much personal income I’ve made and they will deduct the personal off?
My questions though are.. I know you can earn £12,500 without being taxed. But is that the self employed and personal combined? Or just the self employed income?
And my second question is if you go a bit over £12,500... do you get taxed on the whole amount, for example £15,000... or would you just get taxed 20% of the £2,500 that you went over??
Thanks for any help.
Since April (start of the new tax year) I’ve had self employed income and in the first few months I had some personal income as well from jobs I had which I already paid tax on. I think I’m right that I just have to say this is how much self employed income I’ve made and this is how much personal income I’ve made and they will deduct the personal off?
My questions though are.. I know you can earn £12,500 without being taxed. But is that the self employed and personal combined? Or just the self employed income?
And my second question is if you go a bit over £12,500... do you get taxed on the whole amount, for example £15,000... or would you just get taxed 20% of the £2,500 that you went over??
Thanks for any help.